FEDERAL HOME WAN BANK BOARD

FEDERAL HOME WAN BANK BOARD Limitation on Administrative and Nonadministrative Expenses, Federal Home Loan Bank Board Not to exceed a total of $6,625,000 shall be available for administrative expenses of the Federal Home Loan Bank Board, which may procure services as authorized by 5 U.S.C. 3109, and contracts for such services with one organization may be renewed annually, and uniforms or allowances therefor in accordance with law (5 U.S.C. 5901–5902), and said amount shall lie derived from funds available to the Federal Home Loan Bank Board, including those in the Federal Home Loan Bank Board revolving fund and receipts of the Board for the current fiscal year and prior fiscal years, and the Board may utilize and may make payment for services and facilities of the Federal home loan banks, the Federal Reserve banks, the Federal Savings and Loan Insurance Corporation, and other agencies of the Government (including payment for office space): Provided, That all necessary expenses in connection with the conservatorship or liquidation of institutions insured by the Federal Savings and Loan Insurance Corporation, liquidation or handling of assets of or derived from such insured institution”, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of such 84 Stat. 1461insured institutions, or activities relating to section 5A(f) or 6(1) of the Federal Home Loan Bank Act, section 5(d) of the Home Owners’ Loan Act of 1933, or section 406(c), 407, or 408 of the National Housing Act and all necessary expenses (including services performed on a contract or fee basis, but. not including other personal services) in connection with the handling, including the purchase, sale, and exchange, of securities on behalf of Federal home loan banks, and the sale, issuance, and retirement of, or payment of interest on, debentures or bonds, under the Federal Home Loan Bank Act, as amended, shall be considered as Nonadministrative expenses for the purposes hereof: Provided further, That members and alternates of the Federal Savings and Loan Advisory Council shall be entitled to reimbursement from the Board as approved by the Board for transportation expenses incurred in attendance at meetings of or concerned with the work of such Council and may be paid not to exceed $25 per diem in lieu of subsistence; Provided further, That expenses of any functions of super-vision (except of Federal home loan banks) vested in or exercisable by the Board shall be considered as nonadministrative expenses: Provided further, That not to exceed $1,000 shall be available for official reception and representation expenses: Provided further, That, notwithstanding any other provisions of this Act, except for the limitation in amount, hereinbefore specified, the administrative expenses and other obligations of the Board shall be incurred, allowed, and paid in accordance with the provisions of the Federal Home Loan Bank Act of July 22, 1932, as amended (12 U.S.C. 1421–1449): Provided further, That the nonadministrative expenses (except those included in the first proviso hereof) for the supervision and examination of Federal and State chartered institutions (other than special examinations determined by the Board to be necessary) shall not exceed $14,700,000. Interest Adjustment Payments For payments to Federal home loan banks for the purpose of adjusting the effective interest rates charged by such banks, as authorized by section 101 of the Emergency Home Finance Act of 1970, $85,000,000. Limitation on Administrative Expenses, Federal Savings and Loan Insurance Corporation Not to exceed $408,000 shall he available for administrative expenses, which shall be on an accrual basis and shall be exclusive of interest paid, depreciation, properly capitalized expenditures, expenses in connection with liquidation of insured institutions or activities relating to section 406(c), 407, or 408 of the National Housing Act, liquidation or handling of assets of or derived from insured institutions, payment of insurance, and action for or toward the avoidance, termination, or minimizing of losses in the case of insured institutions, legal fees and expenses and payments for expenses of the Federal Home Loan Bank Board determined by said Board to be properly allocable to said Corporation, and said Corporation may utilize and may make payments for services and facilities of the Federal home loan banks, the Federal Reserve banks, the Federal Home Loan Bank Board, and other agencies of the Government: Provided, That, notwithstanding any other provisions of this Act, except for the limitation in amount herein lief ore specified, the administrative expenses and other obligations of said Corporation shall be incurred, allowed, and paid in accordance with title IV of the Act of June 27, 1934, as amended (12 U.S.C. 1724–1730b). 84 Stat. 1462 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Limitation on Administrative Expenses, Housing for the Elderly or Handicapped Not to exceed $850,000 of funds in the revolving fund established pursuant to section 202 of the Housing Act of 1959, as amended (12 U.S.C. 1701q et seq.), shall be available for administrative expenses. Limitation on Administrative Expenses, College Housing Loans Not to exceed $1,000,000 of the funds available for making loans for college housing and other facilities shall be available for administrative expenses in connection with such loans (12 U.S.C. 1749–1749d). Limitation on Administrative Expenses, Public Facility Loans Not to exceed $1,200,000 of funds in the revolving fund established pursuant to title II of the Housing Amendments of 1955, as amended, shall be available for administrative expenses. Limitation on Administrate Expenses, Revolving Fund (Liquidating Programs) During the current fiscal year not to exceed $125,000 shall be available for administrative expenses, but this amount shall be exclusive of expenses necessary in the case of defaulted obligations to protect the interests of the Government. Limitation on Administrative and Nonadministrative Expenses, Federal Housing Administration For administrative expenses in carrying out duties imposed by or pursuant to law, not to exceed $13,500,000 of the various funds of the Federal Housing Administration shall be available, in accordance with the National Housing Act, as amended (12 U.S.C. 1701): Provided, That funds shall be available for contract actuarial services (not to exceed $1,500) : Provided further, That nonadministrative expenses classified by section 2 of Public Law 387, approved October 25, 1949, shall not exceed $118,775,000. Limitation on Administrative Expenses, Government National Mortgage Association Not to exceed $6,600,000 shall be available for administrative expenses, which shall be on accrual basis, and shall be exclusive of interest paid, expenses (including expenses for fiscal agency services performed on a contract or fee basis) in connection with the issuance and servicing of securities, depreciation, properly capitalized expenditures, fees for servicing mortgages, expenses (including services per-formed on a force account, contract or fee basis, but not including other personal services) in connection with the acquisition, protection, operation, maintenance, improvement, or disposition of real or personal property belonging to said Association or in which it has an interest, cost of salaries, wages, travel, and other expenses of persons employed outside of the continental United States, and all administrative expenses reimbursable from other Government agencies and from 84 Stat. 1463the Federal National Mortgage Association: Provided, That the distribution of administrative expenses to the accounts of the Association shall be made in accordance with generally recognized accounting principles and practices. Administrative Expenses, Low Rent Public Housing Administrative expenses of carrying out the provisions of the United States Housing Act of 1937, as amended (42 U.S.C. 1401–1433) shall be provided for from amounts appropriated therefor in this Act, except that necessary expenses of providing representatives at the sites of non-Federal projects in connection with the construction of such projects by public housing agencies with aid under the United States Housing Act of 1937, as amended, shall be compensated by such agencies by the payment of fixed fees which in the aggregate will cover the costs of rendering such services, and expenditures for such purpose shall be considered nonadministrative expenses, and funds received from such payments may be used only for the payment of necessary expenses of providing such representatives.